Financial Statements

The SEC Action Against the City of Harrisburg: Lessons for Other Municipalities

by Timothy J. Horstmann | McNees Wallace & Nurick LLC on 5/15/2013

The Securities and Exchange Commission ("SEC") recently announced that it has charged the City of Harrisburg with violations of various anti-fraud provisions of federal securities laws in connection with the resource recovery...more

But Wait, California May Require Even More In Annual Reports To Shareholders

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/14/2013

Yesterday’s blog discussed California’s requirement that many domestic and foreign corporations send financial statements to their shareholders. If a corporation has 100 or more holders of record (determined in accordance...more

California Requires Many Foreign Corporations To Send Annual Financial Statements To Shareholders

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/13/2013

California is a net exporter of corporate charters, but it remains home to many corporations. As a result, the California Corporations Code has a preternatural concern with foreign corporations. ...more

Rich v. Chong, C.A. No. 7616-VCG (Del. Ch. Apr. 25, 2013) (Glasscock, V.C.)

by Potter Anderson & Corroon LLP on 5/7/2013

In this opinion, the Court of Chancery denied a motion to dismiss a derivative action brought by a stockholder of Fuqi International, Inc. because the plaintiff pled facts that raised a reasonable doubt that the Fuqi board...more

In re Diamond Foods, Inc. Derivative Litig., C.A. No. 7657-CS (Del. Ch. Feb. 28, 2013)

by Potter Anderson & Corroon LLP on 3/7/2013

In this memorandum opinion, the Court of Chancery granted defendants’ motion to dismiss the plaintiffs’ breach of fiduciary duty claims. Defendant Diamond Foods, Inc. (“Diamond”) was planning a December 2011 merger...more

SEC Official Describes Model To Identify Anomalous Accounting Results By Registrants

by Jill Radloff | Leonard, Street and Deinard - Dodd-Frank and... on 2/20/2013

Craig M. Lewis, Chief Economist and Director, Division of Risk, Strategy, and Financial Innovation, U.S. Securities & Exchange Commission, described the SEC’s “Accounting Quality Model,” or AQM. This model is being designed...more

Franchisors: Don’t Forget To File Your New York Annual Sales Tax Information Report

by Steven Foristal, Matthew Kreutzer, Irina Sandler | Armstrong Teasdale LLP on 2/19/2013

All franchisors that have at least one franchisee operating in New York State should be aware that they must file an annual information return next month under a state tax law. This annual report is due on or before March...more

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

by Timothy J. Horstmann | McNees Wallace & Nurick LLC on 2/14/2013

A bill has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others which would, among other things, dramatically change the process by which municipal financings are reviewed by the Department...more

Occupational fraud involves a personal breach of trust

by Thomas Fox on 2/4/2013

Ed. Note-today we are pleased to begin a three part guest series from our colleague Mary Shaddock Jones. My husband, Brian R. Jones, is a CPA, a Certified Fraud Examiner and a member of the Association of Certified...more

Massachusetts Securities Division Sending Letters Requiring Documentation from MA Exempt Reporting Advisers

by Jeffrey D. Collins, Meredith Haviland | Foley Hoag LLP on 2/1/2013

The Massachusetts Securities Division ("the Division") is currently sending letters to exempt reporting advisers in Massachusetts ("MA ERAs") who manage private funds which rely on the exclusion from the definition of...more

Important Dates and Reminders for Investment Management Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and...

by Jeffrey D. Collins, Meredith Haviland | Foley Hoag LLP on 1/28/2013

Annual Compliance Reviews - All investment advisers registered with the Securities and Exchange Commission (“SEC”) are required to review their compliance policies and procedures at least annually (and best practice is...more

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The SEC Action Against the City of Harrisburg: Lessons for Other Municipalities

But Wait, California May Require Even More In Annual Reports To Shareholders

California Requires Many Foreign Corporations To Send Annual Financial Statements To Shareholders

Rich v. Chong, C.A. No. 7616-VCG (Del. Ch. Apr. 25, 2013) (Glasscock, V.C.)

In re Diamond Foods, Inc. Derivative Litig., C.A. No. 7657-CS (Del. Ch. Feb. 28, 2013)

SEC Official Describes Model To Identify Anomalous Accounting Results By Registrants

Franchisors: Don’t Forget To File Your New York Annual Sales Tax Information Report

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

Occupational fraud involves a personal breach of trust

Massachusetts Securities Division Sending Letters Requiring Documentation from MA Exempt Reporting Advisers

Important Dates and Reminders for Investment Management Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and...

3 + 3 = 6 Ways a Family Law Forensic Accountant Can Add to the Success of a Case

"Accounting Cliff” for Public Companies with Operations in China is More Like a Slope

"Corporate Finance Alert: 2013 SEC Filing Deadlines and Financial Statement 'Staleness' Dates"

“Accounting Cliff” Looms for Public Companies with Operations in China

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